Crankstart Foundation
- Assets
- $3.9b
- Revenue
- $55.1m
- Investments
- $3.7b
- Employees
- 0
- Location
- San Jose, CA
- Founding
- 06/2002
- Data as of
- 12/2022
- EIN
- 94-3377099
Organization Overview
Crankstart Foundation is located in San Jose, CA. The organization was established in 2002. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Crankstart Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Crankstart Foundation generated $55.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (30.5%) each year. All expenses for the organization totaled $158.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Crankstart Foundation has awarded 1,707 individual grants totaling $784,030,946. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Moritz President/cfo | 3 | $0 | |
Melissa Narula CEO | 25 | $0 | |
Harriet Heyman Director | 3 | $0 | |
William Moritz Director | 0 | $0 | |
Jake Moritz Director | 0 | $0 | |
Wendy Yu Einhorn Audit Chair | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pacific Foundation Services Llc | 12/30/22 | $534,318 |
Dorothy Chang | 12/30/22 | $137,500 |
Frank Rimerman & Co | 12/30/22 | $125,200 |
Promise 54 | 12/30/22 | $100,000 |
Imagine Crm | 12/30/22 | $80,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,990,494 |
| Interest on Savings | $13,772 |
| Dividends & Interest | $931,848 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $14,126,420 |
| Capital Gain Net Income | $114,336,976 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $19,041,718 |
| Total Revenue | $55,104,252 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,839,154 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,398,070 |
| Total operating and administrative expenses | $10,397,055 |
| Contributions, gifts, grants paid | $147,596,652 |
| Total expenses and disbursements | $157,993,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $84,680,139 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,723,731,581 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $83,563,662 |
| Total assets | $3,853,358,712 |
| Accounts payable and accrued expenses | $33,302 |
| Grants payable | $92,495,948 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $34,519,107 |
| Total liabilities | $127,048,357 |
Grants Awarded
Over the last fiscal year, Crankstart Foundation has awarded $292,964,710 in support to 633 organizations.
| Grant Recipient | Amount |
|---|---|
10000 DEGREES PURPOSE: TO PROVIDE SCHOLARSHIPS AND SUPPORT STUDENTS FROM LOW-INCOME BACKGROUNDS TO AND THROUGH COLLEGE | $500,000 |
18 REASONS PURPOSE: GENERAL SUPPORT | $25,000 |
3RD STREET YOUTH CENTER AND CLINIC PURPOSE: TOWARD THE EXPANSION OF THE HEALTH CORE PROGRAM | $200,000 |
3RD STREET YOUTH CENTER AND CLINIC PURPOSE: COVID RELIEF | $250,000 |
3RD STREET YOUTH CENTER AND CLINIC PURPOSE: TO EXPAND SERVICES BY ADDING A SECOND LOCATION IN BAYVIEW HUNTER'S POINT | $500,000 |
ACCELERATE CHANGE INC PURPOSE: TO SUPPORT THE CIVIC REVOLUTION COALITION'S VOTER ENGAGEMENT WORK | $500,000 |